Taxable Income or Loss and Currency Gain or Loss With Respect to a Qualified Business Unit; Correction

Document Headings Document headings vary by document type but may contain the following: the agency or agencies that issued and signed a document the number of the CFR title and the number of each part the document amends, proposes to amend, or is directly related to the agency docket number / agency internal file number the RIN which identifies each regulatory action listed in the Unified Agenda of Federal Regulatory and Deregulatory Actions See the Document Drafting Handbook for more details. Department of the Treasury Internal Revenue Service 26 CFR Part 1 [TD 10016] RIN 1545-BO07 AGENCY: Internal Revenue Service (IRS), Treasury. ACTION: Final rule; correction and correcting amendments. SUMMARY: This document includes corrections to a final regulation (Treasury Decision 10016) published in the Federal Register on Wednesday, December 11, 2024. Treasury Decision 10016 contained final regulations relating to the determination of taxable income or loss and foreign currency gain or loss with the respect to a qualified business unit. DATES: These corrections are effective on January 17, 2025. For dates of applicability, see § 1.987-15. FOR FURTHER INFORMATION CONTACT: Concerning the final regulations generally, Adam G. Province at (865) 329-4546; concerning the character and source of section 987 gain or loss, Larry Pounders at (202) 317-5465; concerning consolidated groups, Jeremy Aron-Dine ( printed page 5607) at (202) 317-6847 (not toll-free numbers). SUPPLEMENTARY INFORMATION: Background The final regulations (TD 10016) that are the subject of this correction are under sections 861, 985 through 989, and 1502 of the Internal Revenue Code. Corrections to Publication Accordingly, FR Doc. 2024-28372 (TD 10016) appearing on page 100138 in the Federal Register on Wednesday, December 11, 2024, is corrected as follows: 1. On page 100155, in the third column, under the caption “A. Loss Suspension Rule 1. In General”, the second line of the third full…